Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Shinagawa Refractories Co., Ltd. ( (JP:5351) ) just unveiled an announcement.
Shinagawa Refractories will book impairment losses totaling around JPY 9.7 billion on its Ako Plant in Japan and its Brazilian units, Shinagawa Refratários do Brasil and Reframax Engenharia, after revising business plans amid a sharp downturn in domestic steel production and weaker Brazilian steel demand. Management plans to keep the Ako Plant running while pursuing production consolidation and sales expansion, and in Brazil it aims to shift more aggressively into non-steel sectors and wider Americas markets, leveraging group-wide collaboration to restore profitability even as the one-off charges drag down net income for the year and prompt a cut to its profit forecast, though dividends are maintained.
Despite unchanged forecasts for net sales, EBITDA, operating income and ordinary income for the year to March 31, 2026, the company cut its projection for net income attributable to owners by JPY 5 billion to JPY 26 billion due to the impairments. The hit is partly offset by gains on real estate sales booked as extraordinary income and, looking ahead, a gain from a compulsory land sale in Australia will be recognized in the next fiscal year, underscoring that the current earnings downgrade is largely driven by accounting adjustments rather than a deterioration in core operating performance.
More about Shinagawa Refractories Co., Ltd.
Shinagawa Refractories Co., Ltd. is a Japan-based manufacturer of refractories and related materials, serving mainly the steel industry in domestic and overseas markets, including Brazil and the broader Americas. The group also operates engineering and installation businesses and insulation materials operations, positioning it as an integrated provider of high-temperature materials and services to heavy industry.
Average Trading Volume: 75,435
Technical Sentiment Signal: Buy
Current Market Cap: Yen97.01B
For a thorough assessment of 5351 stock, go to TipRanks’ Stock Analysis page.